Loans received in earlier Years – Addition u/s 68 Cannot be Made in Present Year

CA Isha Seth

Brief Facts:

1. The respondent filed his income tax return for the Assessment Year 2009-2010. On scrutiny, the Assessing Officer added the following back to income of the assessee:-

• 76,58,226/

  Please become a Premium member. If you are already a Premium member, login here to access the full content.